The model from the
backlink is busted. But the new model is even more bearish. The new model shows the shares bouncing up from the inverted H+S that I said was possible but look at the new count. Everything down into Aug 2015 was not 3 of 1 down but rather the whole enchilada wave 1. We clearly have a perfect a-b-c wave 2 working right here and it is within 1-2 days of peaking. It has bounced to about the level of the prior 4th in 3 waves. This is not bullish. Intel shares will be testing $20 most likely by the first of the year.
When a player in a volatile sector like tech finishes a 2nd wave of this
degree and is ready for 3 or C down, it is always a good gamble to buy puts. In fact, I am becoming of the mind that the ONLY good time to buy any kind of options is if you think you are about to enter a 3rd degree.
The July 2016 $20
puts are .20, .24, .22 bid, ask, last respectively.
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